Core Viewpoint - Zhejiang Jinsong New Materials Co., Ltd. has been criticized by the Shenzhen Stock Exchange for violations related to its construction contract with Zhejiang Hongxiang Construction Co., Ltd. and the subsequent handling of related transactions [1][2][3]. Group 1: Violations and Transactions - On December 6, 2021, Jinsong New Materials signed a construction contract with Hongxiang Construction for a project worth 118 million yuan, which was later increased to 150 million yuan in December 2022 [1][7]. - The actual transaction amounts between Jinsong New Materials and Hongxiang Construction from 2022 to 2024 were 120 million yuan, 30 million yuan, and 2.8259 million yuan, representing 17.58%, 4.65%, and 0.45% of the company's audited net assets for the respective years [1][7]. - Jinsong New Materials recognized the transactions with Hongxiang Construction as related transactions in April 2025, which met the standards for shareholder meeting review and disclosure in 2022 and 2023, respectively [2][3]. Group 2: Accountability and Disciplinary Actions - The chairman, general manager, financial director, and board secretary of Jinsong New Materials failed to fulfill their duties and obligations, leading to significant responsibility for the company's violations [3][8]. - The Shenzhen Stock Exchange decided to issue a public reprimand to Jinsong New Materials and the aforementioned executives for their roles in the violations [3][9]. - The violations will be recorded in the company's integrity file by the Shenzhen Stock Exchange [4][10].
锦盛新材及相关当事人被通报批评处分